Problem 12-14 Dollar Tree Stores, Inc., and Dollar GeneralCorporation are both discount retailers. As their adapted incomestatements (in $ millions) show, Dollar Generalâs sales revenue wasmore than double that of Dollar Tree. Dollar Tree Dollar GeneralSales $6,630.5 $14,807.2 Cost of goods sold 4,252.2 10,109.3 Grossprofit 2,378.3 4,697.9 Selling, general, & administrativeexpenses 1,596.2 3,207.1 Net operating income 782.1 1,490.8 Otherexpense 2.6 265.5 Income before taxes 779.5 1,225.3 Income taxexpense 291.2 458.6 Net income $488.3 $766.7 Prepare a common-sizeincome statement for each company. (Round answers to 2 decimalplaces, e.g. 50.12%.) Dollar Tree Dollar General Sales % % Cost ofgoods sold % % Gross profit % % Selling, general &administrative expenses % % Net operating income % % Other expense% % Income before taxes % % Income tax expense % % Net income %%
Problem 12-14 Dollar Tree Stores, Inc., and Dollar GeneralCorporation are both discount retailers. As their adapted incomestatements (in $ millions) show, Dollar Generalâs sales revenue wasmore than double that of Dollar Tree. Dollar Tree Dollar GeneralSales $6,630.5 $14,807.2 Cost of goods sold 4,252.2 10,109.3 Grossprofit 2,378.3 4,697.9 Selling, general, & administrativeexpenses 1,596.2 3,207.1 Net operating income 782.1 1,490.8 Otherexpense 2.6 265.5 Income before taxes 779.5 1,225.3 Income taxexpense 291.2 458.6 Net income $488.3 $766.7 Prepare a common-sizeincome statement for each company. (Round answers to 2 decimalplaces, e.g. 50.12%.) Dollar Tree Dollar General Sales % % Cost ofgoods sold % % Gross profit % % Selling, general &administrative expenses % % Net operating income % % Other expense% % Income before taxes % % Income tax expense % % Net income %%
